Bonds & Stocks
Wall Street investors closely monitoring trade discussions between the US and China drove Treasuries higher, with a $58 billion bond auction set to test the appetite for American securities amid President Trump’s fast-evolving tariff war.
Economy
Grocery prices on average increased in May, keeping pressure on consumers. Even as egg and fruit prices fell, key staples like vegetables, dairy, and meat became more expensive. On net, grocery prices are 29% higher than their pre-pandemic level from 2019.
World
UK employment plunged by the most in five years and wage growth slowed more than forecast. Tax data showed the number of employees on payroll tumbled 109,000 in May.